News

European shares climbed modestly at the end of a volatile week, with banks and technology stocks, which have been hit hard by growth worries, leading the way, while Italian stocks rallied as bond yields fell.

The pan-European STOXX 600 managed a 0.2pc gain by 0830 GMT, while Italy’s FTSE MIB outperformed with a 0.8pc rise.

Renault shares climbed 3.2pc in a modest recovery after the carmaker dropped 8.4pc on Monday when CEO Carlos Ghosn was arrested over allegations of financial misconduct.

Ericsson shares rose 2.1pc and Nokia climbed 1.3pc as traders saw a positive read-across from a Wall Street Journal report that the US government is asking allies to shun telecoms equipment from China’s Huawei.